Page 1 of 1
Sending money back to uk?
Posted: Sun 12 Jul 2015 11:10 am
by solic200
If I send £60000 back to the uk would I be liable for any taxes even though it came from the uk originally.
Re: Sending money back to uk?
Posted: Sun 12 Jul 2015 11:19 am
by jacob
Well I wasn't when I returned a lot of money back to UK, just did it bank to bank.
I'm probably wrong though Wait till someone else either agrees with me or doesn't
Re: Sending money back to uk?
Posted: Sun 12 Jul 2015 11:51 am
by kaiserphil
I transferred all my money to a German bank when I left TRNC.
No question of tax, just an on line transfer.
Re: Sending money back to uk?
Posted: Sun 12 Jul 2015 2:43 pm
by Col
depends what the money came from. If it was from a gain on house sale then yes, unless you have been there for a long time then that is unlikely!
Why do you think it could be liable to tax?
Re: Sending money back to uk?
Posted: Sun 12 Jul 2015 8:11 pm
by Keithcaley
Just give it to me...
I'll carry it for you...
Re: Sending money back to uk?
Posted: Mon 13 Jul 2015 9:35 am
by solic200
Col the money was sent from the uk 5yrs ago to buy a villa but I didn't buy it in the end.
I have been here 16yrs.
I should of just wrote would there be any problems sending it back in general as I know any large amounts of money being transferred around the globe can ring alarm bells.
Keith I would never find you in Thailand but thanks for the offer lol.
Re: Sending money back to uk?
Posted: Mon 13 Jul 2015 11:02 am
by KWAKERT4
I sent over £60,000 Iktisat to Lloyds last year. I had to pay a fee, collected by Iktisat, but no tax in UK, even though some of the money was profit on house sale.
T
Re: Sending money back to uk?
Posted: Mon 13 Jul 2015 11:07 am
by solic200
Thanks for that info.
Re: Sending money back to uk?
Posted: Mon 13 Jul 2015 4:26 pm
by Col
understand the alarm bells fear, you are allowed to send money back though. If the money contains a gain of more than £10600 there is tax due in the uk.